Author: Nicholas Marshi

BlackRock Capital issues its first public Convertible after years in the dog house. The BDC News Of The Day reviews the terms,and spells out the impact on the BDC’s earnings in the short term and the balance sheet outlook medium term. We also provide our own analysis about the creditworthiness of the Convertible Notes through a hypothetical financial crisis. We’re not as bullish as the rating agencies….

Medallion Financial is back in the news intra-day with a big insider purchase with a value over $100,000 from a Director. The BDC Reporter discusses the details and the recent purchase history and stock movement.

Golub Capital is selling equity (again) for two specific purposes. The BDC Reporter discusses the details of the offering and what the trends in earnings and credit look like at this highly popular BDC trading at a big premium to book value.

BlackRock Capital amends its Revolver. The BDC Reporter uses the opportunity to review the credit agreement and discusses dull-as-dishwater issues such as liability management and portfolio valuation for readers interested in what might prove important in the Next Crisis.

Pennant Park Floating Rate announces an unchanged monthly dividend. The BDC Reporter looks ahead to what a recently announced new Joint Venture with Kemper might mean in the short term and long term for one of the most stable pay-outs in the sector. Yup, one of those “Good News/Bad News” stories.

Gladstone Investment files another amendment to its $300mn Shelf Offering. There’s no “new” news to report but the BDC Reporter does have a warning for holders of the currently high flying BDC’s publicly traded Preferred issue with the ticker GAINO.

BDC common stocks as a group are going nowhere but there were two exceptions to the rule. Baby Bonds remain uniformly valued at premiums to par, ith the one exception moving back up.

In BDC News Of The Day, Horizon Technology Finance puts the finishing touches on a prospectus that includes the potential sale of 7.7% of its stock by an existing shareholder.

A BDC News Of The Day follow-up on the details of the MVC Capital sale of one of its subsidiary to a public utility company as contained in a just filed 8-K.

In BDC News Of the Day, Capital Southwest reports fiscal year and quarterly earnings. The BDC appears to be doing well in its first year as a lender-focused BDC, but the BDC Reporter cannot help but point out some concerns.